China central bank conducts medium-term loan operation, with rate unchanged

SHANGHAI (Reuters) – China’s central bank conducted a medium-term loan operation on Friday while keeping the interest rate unchanged.

The People’s Bank of China (PBOC) issued 700 billion yuan ($98.36 billion) worth of one-year medium-term lending facility (MLF) loans to some financial institutions at 2.00%, unchanged from the previous rate, according to an online statement from the bank.

The bid rates in Friday’s operation ranged from 1.90% to 2.30%, the central bank said.

A batch of 789 billion yuan worth of MLF loans was due to expire this month.

($1 = 7.1167 Chinese yuan)